Live News Live News: EU clears acquisition of Dornan Engineering by US firm; Ten Irish firms named in Wired’s top 100 start-ups
Dornan said in a statement at the time that the sale would create “a business of significant scale in Europe with the ability to deliver an increased portfolio of work”. “For a small island we have some amazing innovation,” Dunne wrote on LinkedIn. “I'm very proud that Marker Video is in amongst them.”15.15 - No new claims made on Apple tax windfall - Chambers No further moves have been made by other countries so far to claim a slice of Ireland’s tax Apple tax windfall, Jack Chambers, the finance minister, has confirmed.
The company, which provides fund management services for some of Bain’s funds, said turnover had risen from €8 million at the end of 2022 to €15.7 million by the end of 2023. This led to a profit after tax of €2.4 million, compared to €1.9 million the previous year.Read the full article by Kathleen Gallagher here.
The group also increased its profit margin, with its cost of sales only increasing by 5.3 per cent year-by-year. This brought its profit margin up from 21.2 per cent to just over 25 per cent.14.
It was first time since August 22 that the two-year yield had topped 4 per cent, and the first time since August 7 that the 10-year yield had breached the threshold. The most recent session both yields simultaneously traded above 4 per cent was August 7.13.45 - Chevron to sell assets worth $6.5 billion to Canadian Natural Resources Chevron is selling its assets in Athabasca Oil Sands and Duvernay Shale to Canadian Natural Resources for $6.
The deal adds to AstraZeneca’s strong presence in China, where it is the largest western drugmaker by sales. It licensed an anti-obesity treatment last year from Eccogene, a Chinese biotech, and has a large research and development presence in the country.13.
The company – which has developed a handheld device enabling molecular diagnostics to be conducted outside of traditional clinical environments – will put the investment towards clinical trials on HIV patients, as well as a scale-up of manufacturing and product development over the next three years. O’Buachalla, who is based at the residential property developer’s Dublin office, brings with him more than two decades of experience in real estate, having previously held chief financial officer positions at Johnny Ronan’s Treasury Holdings and Burlington Real Estate.
InnaLabs’ gyroscope unit, named ARIETIS-NS, will track the spacecraft’s spin rate as it tumbles away from its Ariane 6 launcher following liftoff, which is scheduled for launch just before 3 pm Irish time.Read the full article on Silicon Republic. The company has received support from IDA Ireland and intends to hire for 50 positions over the next three years.
The sale is expected to complete in the fourth quarter of this year, subject to shareholder approval, among other factors. Daly served as minister of state with responsibility for mental health and older people from 2017 to 2020.10.00 - ECB will ‘quite probably’ cut interest rates this month - French central bank chief The European Central Bank will “quite probably” cut interest rates at its next meeting later this month, according to governing council member Francois Villeroy de Galhau.
The funding consists of follow-on investments from Irrus Investments, the MedTech Syndicate and Boole Investments along with capital from Enterprise Ireland and a new private investor. This threat, combined with rising levels of ‘friendly fraud’, where fraud is committed by the customer themselves, such as refund fraud, is increasingly threatening merchant profitability.
The workers are seeking the restoration of a payment for the first hour of their travel time, which Unite said was cut as a temporary measure following the 2008 financial crash.09.00 - Irish markets update The Iseq All Share was in the negative at market open on Monday, the Irish market was down 0.04 per cent to 9,618.31.
The estate agent estimates that about 62,000 new homes will be needed every year to meet growing market demand which is being driven by demographic changes. The State reported just under 32,700 completions last year.08.30 - Humphreys to begin search for firms to manage pension auto-enrolment scheme Heather Humphreys, the minister for social protection, says she will begin searching for investment firms to manage the state’s upcoming auto-enrolment pension scheme shortly.